I don't think there are good arguments Against my position I think the people That oppose my position are idiots and And so I don't think there is a rational Argument against my possession this is An incredible thing naturally people Like to run gambling conceals where Other people lose And the people who invented this Cryptocrapo which is my name for it Yeah sometimes I call it cryptocrabble And sometimes I call it Well cryptos And it's just a ridiculous that anybody Would buy this stuff Yeah it isn't You can think of hardly nothing on Earth That's done more good to the human race Than currency National currencies They were absolutely required to turn Man from a goddamn successful ape yeah But motto modern successful humans in Human civilization Because it enabled all these convenient Exchanges so if somebody says I'm going To create something that sort of Replaces the national currency It's like saying I'm going to replace The National Air you know it's it's as An eye It is it isn't even slightly stupid it's Massively stupid And and of course it's very dangerous And of course the governments were
Totally wrong to permit it and of course I'm not proud of my country for allowing This crap What I call the crypto to it's worthless It's no good it's crazy it'll do nothing But harm it's anti-social to allow it Smart guy obviously but there are some Really smart people that Um that could give you a really good Case yeah I don't think he could give You a good case because he has no idea How it works not sure he's read the White paper on anything I don't think he Knows but the the very I don't think the First page of of the Bitcoin standard or Whatever book you want to go to I don't Think he's read the first page and I mean that's the most Um Pedestrian Viewpoint that I've heard From people for for 20 years they all Say the same thing None of them know anything about it but They Pursuit and that's fine he's smart We've seen stuff before and this reminds Them of patterns right exactly that's Kind of what what it is you know But he and Warren think of of tech how Long did they oh no but they were Picking and screaming into the the new World yeah but they will the internet All those things they will say they're Not Tech investors but they're not I Know well then then and by the way when
They bought it then don't then don't Opine on things you have no idea about It but I think they they they look at Some of these deals particularly the Coins that are just made up okay well That you're not talking about Bitcoin in That regard but there's some very smart Guys that are maybe a little more Tech savvy dead I'll give you a list of them but from Drucken Miller to tutor Jones than him Recent to Peter Thiel I agree with a lot Of Bill Miller yeah Things he said yesterday including California is driving out all wealthy People with the policy no I know I do But you said crotchety old 99 year old And I don't expect him to understand Bitcoin this video is video sponsored by Radiant capital in the world of Traditional Finance money markets play a Key role by offering lenders and Borrowers a way to satisfy their Short-term financial needs while the Crypto industry requires the same sort Of service the issue is that the capital Is too fragmented across all the Different chains requiring multiple Transactions and fees to bridge from one Chain to another this is where radian Capital comes in radian capital's goal Is to become the very first Omni chain Money market where users can deposit any Major asset on any major chain as well
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And when their pensions go it's gonna Suck cash out of the stock market So Charlie would probably still say buy Stocks but the reason I like kryptos not Bitcoin is because of blockchain And blockchain is an accounting system You know it's more legitimate than the Fed or the treasury Or Wall Street so Charlie Munger is in The FED treasury Wall Street crowd and The younger Generations Millennials and Below are in you know I I found crowd This is the most powerful tool I've ever Seen I still don't know how to use it Because I'm an old guy but this thing Here is the most powerful tool I've ever Seen in history and there's more tools Coming But this thing here this iPhone I'm on The you know I can call anybody in the World like that It's amazing what can be done so the Younger generation Is on this thing well Charlie Monger is On you know the FED treasury of Wall Street colorful the mainstream media Wanted to comment they didn't ask him About Tick Tock Netflix Amazon Apple Facebook Google Microsoft they didn't Ask him about any of a hundred other new Technologies if you want to understand Bitcoin you you reasonably scratched the Surface in 10 hours you start to Understand it in a hundred hours I don't
Think Charlie Munger has spent a hundred Hours studying Bitcoin so I think it's Kind of unfair to poke him with the Question but I'm in a state for the Record I mean isn't isn't Berkshire Hathaway A generation behind all Technology despite the fact that Warren Buffett is best friends with Bill Gates Warren Buffett never invested in Microsoft and Microsoft was founded in 1976. And uh and so they never invested in Apple until 40 years later and then it Was a person that worked for them that Invests in apple and they didn't invest In Google when it came public and they Passed on it every year since so so uh I Think that uh the this many controversy It's just because Bitcoin Is the fastest growing most disruptive Force in the world right now Objectively speaking it went from zero To a trillion dollars in 12 years that Makes it the most disruptive technology In your lifetime in my lifetime more Disruptive than Amazon Apple Facebook And Google more disruptive than anything In our lifetime maybe we went back to The automobile and Henry Ford in 1910 we Might find something that changed the World in a decade Um but not you know that doesn't come Along often so all these people are Getting poked and asked their opinion
When I'm 97 if you stand me if I'm still Working if I'm lucky enough to still be Alive is still working if you ask me About the latest greatest hologram Simulation Technologies startup that's Taking the World by storm that's used by My grandchildren and I don't quite get It I you know I I wouldn't expect to get it so I I mean isn't Charlie Monger old enough To be your Great-grandfather Michelle Like I mean do you go to your great Grandfather for investment advice on new Technologies so I like them I like I Like Warren Buffett they've been Successful but they haven't been Successful technology investors this Century And I would just leave it at that
